Guideline Value for Nagaluthu Medu Arasamara Street

Nagaluthu Medu Arasamara Street guideline value

The current guideline value of Nagaluthu Medu Arasamara Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class II Type - II.

How the guideline value of Nagaluthu Medu Arasamara Street has changed

Over the years, the guideline value of Nagaluthu Medu Arasamara Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. In 2023, the value rose to Rs 1,000 per sq.ft, and the most recent revision in 2024 increased it to Rs 1,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase. The transition from 2023 to 2024 shows a 10% increase as well.

Guideline values in 2nd Division

In the 2nd Division village under the Kanchipuram Joint IV SRO, there are 101 streets with a guideline value for 2024 ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which indicates that the guideline value of Nagaluthu Medu Arasamara Street is below this median.

• Nagaluthu Street: Rs 1,100 per sq.ft (2024)
• Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Munusamy Mudaliar Avenue Backside: Rs 3,300 per sq.ft (2024)
• Munusamy Mudaliar Avenue: Rs 4,400 per sq.ft (2024)
• Mullapalayam Street: Rs 1,100 per sq.ft (2024)
• Nellukara Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nagaluthu Medu Arasamara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagaluthu Medu Arasamara Street?

The Sub Registrar Office that covers Nagaluthu Medu Arasamara Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role during property registration in the 2nd Division. It is used to determine the stamp duty and registration fees applicable on the property transaction. Buyers and sellers should be aware that the guideline value is a reference point for the government to assess the value of the property being registered.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Nagaluthu Medu Arasamara Street?

The current guideline value of Nagaluthu Medu Arasamara Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in 2nd Division?

The median guideline value in the 2nd Division village under the Kanchipuram Joint IV SRO is Rs 1,650 per sq.ft, which is higher than the guideline value of Nagaluthu Medu Arasamara Street.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

Where can I find the Sub Registrar Office for this street?

The Kanchipuram Joint IV Sub Registrar Office covers Nagaluthu Medu Arasamara Street and is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.